Centre exempts 'Bangalore rose onion' from export duty
The govt in the past imposed a 40 per cent duty on the export of onions to check price rise and improve supplies in the domestic market till December 31, 2023.
The central government has exempted the export of 'Bangalore rose onion' from recently imposed duty, with a small rider.
Also Read - Property prices in Bengaluru set to go up from today. Here is why
“Goods meant for export shall be allowed to be exported subject to the exporter furnishing a certificate from the Horticulture Commissioner, Government of Karnataka, certifying the item and quantity of Bangalore Rose Onion to be exported,” the official notification from the Ministry of Finance said.
The notification came into force with immediate effect.
Bangalore rose onion is a variety of onion grown in and around Bengaluru in Karnataka. It got the coveted Geographical Indication tag in 2015.
In August, the government imposed a 40 per cent duty on the export of onions to check price rise and improve supplies in the domestic market till December 31, 2023.
Earlier in the same month, the central government started releasing the staple vegetable from its buffer stock. The central government had earlier decided it would maintain 3 lakh tonne of onions in the 2023-24 season as buffer stock. In 2022-23, the government maintained 2.51 lakh tonne onion as buffer stock.
Buffer stock is maintained to meet any exigencies and for price stabilisation, if rates go up significantly during the lean supply season.
Rabi onion harvested during April - June accounts for 65 per cent of India's onion production and meets the consumer's demand till the Kharif crop is harvested in October-November.
